In speech, Romney promises to revitalize economy

Mitt Romney is promising to revitalize the nation's economy with "bold ideas" and a senior aide said the Republican presidential candidate would not cut ties with an Indiana Senate candidate who said pregnancy resulting from rape is "something God intended."
Associated Press
Oct 26, 2012

As President Barack Obama took a break from the campaign trail, Romney delivered what his campaign billed as a major economic address in swing state Iowa on Friday to help win the dwindling number of voters yet to make up their minds. While the speech did not break new ground, it was designed to help crystalize the differences between his and Obama's economic approaches less than two weeks before Election Day.

"If Paul Ryan and I are elected as your president and vice president, we will endeavor with all our hearts and energy to restore America," Romney said. "Instead of more spending, more borrowing from China and higher taxes from Washington, we'll renew our faith in the power of free people pursuing their dreams."

Minutes before the speech, senior strategist Eric Fehrnstrom said Romney would not call on Indiana Senate candidate Richard Mourdock to remove TV ads featuring Romney's endorsement. Fehrnstrom said Romney disagrees with the Indiana Republican's recent comment about rape, but would not interfere with Mourdock's advertising.

"That's his decision," Fehrnstrom said when asked whether the campaign wants Mourdock to remove the ads. He added that Romney feels he has addressed the matter and doesn't plan to discuss it further.

Romney has not spoken about Mourdock's comments directly, despite repeated questions from reporters about it in recent days.

The candidate was focused on the economy as he addressed several hundred supporters on a cold autumn day outside a local construction company.

Romney argued that Obama has no proposals that can meet "the challenges of the times." He dismissed the president's signature legislative achievement, a health care law, as "his vaunted Obamacare" and said he would instead focus on saving Medicare and Social Security.

He repeated many of his standard campaign themes: that Obama is focusing on small issues like "characters on Sesame Street and silly word games" and that Romney will improve kitchen-table concerns like health care, job creation and school choice. His signature refrain is that America can't afford another four years like the last four years.

The speech came hours after the government reported a slight pickup in economic growth in the final such report before the Nov. 6 election.

The pickup to 2 percent from July to September from the 1.3 percent in the second quarter may help Obama's message that the economy is improving. Still, growth remains too weak to rapidly boost hiring. And the 1.74 percent rate for 2012 trails last year's 1.8 percent growth. Romney called the news "discouraging."

"Slow economic growth means slow job growth and declining take-home pay," Romney said in a statement. "This is what four years of President Obama's policies have produced."

The White House had a more positive take on the news in a blog post by Alan Krueger, chairman of the Council of Economic Advisers. "While we have more work to do, together with other economic indicators, this report provides further evidence that the economy is moving in the right direction," he wrote. Obama got better news from a survey out of the University of Michigan showing consumer confidence rising to its highest level in five years.

An Associated Press-GfK poll out this week shows Romney overtaking Obama as the candidate that likely voters trust more to handle the economy. The poll found 51 percent of those voters surveyed Oct. 19-23 picking Romney, compared to 44 percent for Obama. The two candidates were tied among likely voters on that issue in the previous poll in mid-September.

Still, the two are locked in a dead heat in the nationwide poll. Other surveys show a tight race in the swing states that will decide the election, with the winning candidate needing 270 Electoral College votes. With Hurricane Sandy threatening the East Coast during the final full week of the campaign, Romney canceled a rally in Virginia scheduled for Sunday. Obama aides said they were watching the storm's path before deciding whether to call off any of his events.

Obama was pushing back on Romney's criticism on another front — relations with Israel, which could have an impact particularly with Jewish voters in swing state Florida. The Republican has repeatedly criticized Obama for not traveling to Israel as president. Obama visited as a candidate in 2008.

A new ad shows images of Obama's trip and video of his pledge during his final debate with Romney that Iran will not get a nuclear weapon while he's president and that "our bond with Israel will be unbreakable."

Romney spokeswoman Amanda Henneberg responded that Obama's Middle East policy "has been a failure."

"As president, Mitt Romney's first overseas trip will be to Jerusalem, and under a Romney Administration, the world will never question America's solidarity with Israel," she said in a statement.

Romney was expanding his TV advertising into Minnesota, where President Richard Nixon was the last Republican to carry the state 40 years ago. The investment is described as a small buy that Democrats suggest is simply intended to generate media coverage and force the incumbent campaign to spend money there as well. And Obama's campaign followed suit, going up with what it described as a small buy meant to reach voters in neighboring Wisconsin.

Romney's running mate Paul Ryan also spent time in states not expected to affect the race's outcome, with fundraisers in South Carolina and Alabama. Ryan was scheduled to join Romney for a rally Friday evening in North Canton, Ohio, before the vice presidential candidate embarks on a two-day, 400-mile bus tour of the state.

At a midday luncheon in Huntsville, Ala., that raised more than $1 million for Romney's campaign, Ryan told donors they were helping pay for television ads in battleground states and staff to get voters to their polling locations. "Historically, Republicans have not been as good at that," Ryan said. "We're getting a lot better."

Vice President Joe Biden, campaigning Friday in Wisconsin, said Romney "meant what he said" when he was caught on tape saying that 47 percent of the nation considers themselves victims.

"Romney talks about victims. I don't know where the hell he lives," Biden told about 1,000 people at the University of Wisconsin-Oshkosh. "I don't recognize the country he's talking about." The Obama campaign has a radio ad playing heavily in Wisconsin keying off of Romney's 47 percent line and using it to question the Republican's priorities. Both Romney and Ryan plan to campaign in Wisconsin early next week.

Obama arrived back in Washington late Thursday following a 40-hour battleground state blitz of eight states. He took a one-day break from the campaign trail Friday, spending much of the day at the White House, with a trip to Democratic Party headquarters to film a live appearance on MTV. Turning out young voters who tend to vote Democratic is a key strategy for the Obama campaign. He was scheduled to campaign in New Hampshire on Saturday.

The president also planned Oval Office interviews Friday with American Urban Radio Networks, which has a largely black audience, and Michael Smerconish, the conservative-leaning radio host who backed him in the 2008 election.

Obama also planned to talk to local television stations in swing states. And the campaign announced Friday that the president will travel next week to Colorado, Wisconsin and Ohio for a series of campaign rallies and events.




@ eriemom:

Buy low, sell high; do you not understanding investing?

Do you have any retirement assets or are you planning to live off a govt. stipend?

At least Mr. Romney invests his own money. Mr. Obama uses taxpayer money like he's at a casino.


Do you not understand the hypocrisy? Mr. Romney wrote an opinion about letting the auto industry go bankrupt and against government loans. While he was collecting cash from the same loans. Another talking point has been about bringing jobs back from China. All while he was involved with liquidating Delphi pensions, so that government pension insurance had to pick up the bill. His investment partner then sent every job to China.


@ eriemom:

Not the "auto industry" - GM and Chrysler. All you're doing is repeating Obama nonsense.

And YES! GM and Chrysler DID go BANKRUPT!!!

Did you 'actually' read Mr. Romney's op-ed or are you again just trusting the left wing news network?

Here is it:

He calls for 'bridge loans' as was done under Pres. Carter for Chrysler.

Delphi didn't go to China. Buy some stock:


Bridge loans from a dysfunctional banking industry. So, just because I could buy some stock the manufacturing did not move to China? I can buy stock in Apple, most of their products are manufactured in China.

What will happen when it is discovered that the reason that Mr. Romney did not wish to release his tax returns to the public is because he benefited from TARP and the liquidation of Delphi pensions?

When venture capitalists discuss liquidation they are talking about pensions for the most part. You do understand that even though Ford was not involved in TARP, they did share parts manufacturing. They too would have been bankrupt from Singer's blackmail.


@ eriemom:

Govt. "bridge loans":

"The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk."

So nationalization of GM and Chrysler was the only alternative?

You do know that Fiat is failing in Italy don't you?

Few people could afford an Apple product if it was manufactured here. All the intellectual property is in the U.S.

Vested benefits in defined contribution pension trusts are guaranteed. See: ERISA

You rely on one lefty for your info. and arrive at nonsensical conclusions.


eriemom, stevie, deertracker, puttytat, mhl, meowmix, 4shiz - just how many shares of gm do you all own? if none why not? don't you want to be part of saving them? after all the ONLY way they could have survived was by a gov't bailout and no other way according to all of you financial genuises. did prezo send you your shares yet? the biggest farce the obumbles campaign has spread is that the auto industry surely would have failed without the bailout. what happens when they fail again, which they surely will? chrysler is a prime example of that. throwing good money after bad has never worked!


I thought we already have decided that SS is NOT an entitlement program. If this is the case, then living off SS and NOT living off a govt. stipend. Why is this so difficult for republicans to understand? Of course, if it is in their favor, they understand it very well - it's when it doesn't fit into the argument they are having this they don't understand it. romney invests his money because he was born with plenty of money to invest. Many middle class and poor do not have the ability to invest money into big business. Probably if they did - then everyone would be rich and paying only 14% tax and have billions in overseas accounts. Those people are not usually hand-made by hard work - they are usually someone whose parents or grandparents have started them off because THEY were rich. It's the silver spoon syndrome. The majority of rich people were born into richness and they stay rich due to stupid policies put into place by who? More rich people protecting themselves.


@ ss:

By definition, SS and Medicare are "entitlement" programs:

There is no trust fund. Benefit payments are collected from current workers.

Both are unsustainable Ponzi schemes.

Not a "govt" stipend?

Remember last yr. during the Fed debt ceiling debate that Pres. Obama said that SS checks might not go out?

John Harville

Pres Obama said SS checks might not go out IF THE GOVERNMENT SHUT DOWN because Congress refused to discuss budget issues. No matter what Huff or you say, SS has a trust fund - but Johnson and Reagan raided it. The fact it is NOT included as a budget item tells all.
Benefit payments are collected from current workers. When the Baby Boomers were contributing in huge numbers, there was more money than their retired parents needed. The surplus was placed in a trust fund. When Reagan needed to make his budget look better, he got Congress to 'borrow' the Trust Fund. Even Republican economists agree if that was repaid, SS would be good for another 50 years.


@Steve: Do you understand that republicans were always against SS and Medicare? They have starved the beast and will stop at nothing to end the programs. Calling them entitlements was the start. Then making statements about the programs not being available for young Americans to get folks on board for the coupon plan came next.


@ eriemom:

Any financially prudent individual knows a Ponzi scheme when they see one.

What happens to a person's contributions when they die prior to retirement age and there are no beneficiaries? Only the govt. could get away with such theft.

Ask a twenty-something and thirty-somethings if they believe that SS will be around for them.

Who "starved the beast"? Contribution percentages were raised under Pres. Reagan.

Why bother talking about upping the retirement age and means testing if the SS program is not in trouble?


I do not dissagree that it is in trouble - my issue is that it should be made whole again by the same government that ruined it. But my biggest complaint is lumping it in with welfare and medicaid as an entitlement. I PAID FOR MY SS AND MEDICARE - it belongs to me - I am NOT entitled to it as a welfare recipient, I am entitled to it because it is MY money. If it was not MANDATED that it come out of my check without my agreeing to it, then I could do a lot better handling it myself, but as long as the IRS and the government says it MUST be withdrawn - then it is still MY MONEY and not an entitlement as in taking money from the government. I will be taking money which I banked myself WITH the government - it is still MY MONEY and is not an entitlement. I'm sorry that the republicans cannot understand the difference, but that is a big difference. Tell the republicans to stop taking if from my pay check and I'll be happy with calling it an entitlement.


sanduskysteve writes:

"I do not dissagree that it is in trouble - my issue is that it should be made whole again by the same government that ruined it."

And at about $100T in projected unfunded liablities, how do propose that SS and Medicare be "made whole"?

Taxpayers ARE the govt.

Are you "entitled" to the benefits?

John Harville

...made whole by returning the huge amounts Reagan 'borrowed' from it.

The Big Dog's back

winnie, Capitalism is a Ponzi scheme.


brutus writes:

"Capitalism is a Ponzi scheme."

Which means what?


eriemom - i am republican and definately against social security! any program that involves our corrupt gov't getting their hands on surely will fail!!! let me have my money to invest how i see fit.

John Harville

Ah @Mikel... it must be wonderful to be as 'flush' and blest as you - and so full of self-control. You are NOT Republican. You are Libertarian. And like so many of them you want to have sway over your own money and invest it as you choose. So. I propose that you get to keep all your money. You pay no taxes. However, you also don't walk on the sidewalks, drive on the streets, call the fire department when your house catches fire, call an ambulance when you have a heart attack, call police when someone is trying to break into your house, have a street light on your corner, send your children to school - unless you pay a 'toll' for use of any of those services for which the rest of us a paying. Or you could just thank God Almighty for the privilege of being born in this country and enjoying all the attendant benefits.


"His own money" did you really just type that? I guess it is his now since he stole it from hard working Americans! What are you going to live off of when Wall St. crashes AGAIN and next time no bailout?????


@ deertracker:

Only the govt. can "legally" steal money from "hard working Americans."

Another Wall St. crash? It's called: Asset diversification.

John Harville

@Contango. uhuhuhuh! Mr. Romney invests millions of dollars created by workers in the companies he and Bain Capital sell off or move... ie: the Freeport company Bain is moving to China - in which Romney has $8+ million of 'his' dollars invested and from which he can expect to make millions more. Some of 'his' investment dollars were gained from the sale and move of Delphi....


@ John Harville:

And the largest public employee pension trusts, Calpers and Calstrs invest billions of dollars worth of their assets in foreign cos. as well as investing in alternative investments like hedge funds and private equity firms.

Why do you think they make those investments unless they expect to make a ROI?


@ eriemom:

Here's a video for you. Please watch as I did yours:


I watched the O'Rielly Talking Points. I get that republicans are working hard to make the death of four Americans a political issue. I also trust that the Obama administration will hold those responsible accountable; ie. Osama bin Laden.


@ eriemom:

Memo: I ain't a Repub.

It's been almost seven wks. and the American people are still waiting for answers of: Who, what, where, when, why and how.

The election probably has nothing to do with the Admin's stonewalling does it?

The Big Dog's back

I'm not waiting for an answer.


But, you will vote for one.


@ eriemom:

Other than Mr. Obama, whom I will vote for has yet to be determined. Still watchin' the polls.

John Harville

Probably not. BEcause the info coming forth (like the 'responsible terrorist group posted on FB and Twitter then retracted by said group and the reports from Cairo about the 'anti-video demonstration' there earlier, and the fact the Ambassador had been moved to the prescribed safe room but died of smoke asphyxiation) have made no difference so far.


Anyone see Trump on Letterman show? He condemned the President for not dealing properly with China, turned around to market his shirts and ties at Macy's...ties made in Bangladesh, shirts made in China. And repubitards buy into this sort of b.s.